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Being sued--need help


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I'm being sued by a loan company. My hours at work have been cut and I believe that if they garnish my wages I may be fired. I need help filling out the response.

 

1) Plaintiff, Springleaf Financial services, Inc. "Springleaf Financial") is a Delaware Corporation doing business in Bernalillo County, New Mexico.

 

2) Upon information and belief, Defendant  is a resident of Bernelillo County, New Mexico. This action relates to a debt which was incurred in Bernalillo County, New Mexico.

 

3) This is an attempt to collect a debt, and any information obtained will be used for that purpose.

 

4) Unless you dispute the validity of the debt within thirty (30) days after the date this pleading is served on you, the debt will be assumed to be valid. If you notify this office, in writing, within thirty (30) days of the date of service that the debt is disputed, this office will obtain verification of the debt and mail it to you. This office will provide you with the name and address of the original creditor, if different from the current creditor, if you request this information within 30 days of the date of this service.

 

5) On or about November 23, 2012, defendant executed and delivered a Loan Agreement and Disclosure Statement to the plaintiff in the amount of Four Thousand Eight Hundred Ninety Eight and 97/100 Dollars ($4898.97) accruing interest at the rate of Thirty-Four and 53/100 percent (34.53) per annum. A copy of the note is attached hereto, marked exhibit "A" and incorporated by reference herein. The note is secured by collateral more fully described therein. The plaintiff is not proceeding against the collateral at this time and reserves all rights in the collateral.

 

6) The note provided that if any installment was not paid by its due date, or if the Defendant broke any other promise, then the defendant would be in default.

 

7) In the event of default, the note further provided that the plaintiff could, without prior notice or demand, demand the entire unpaid balance due and owing under the note and also exercise all of its legal rights under law or equity.

 

8) The note further provided for a late charge of Five percent (5%) of any payment due and owing.

 

9) The note further provided for the payment of costs and reasonable attorneys' fees in the event of  a default. Court costs and attorneys'

fees have been occurred and are due and owing.

 

10) The defendant is in default of the note due to non-payment of the regular monthly installments. Demand for payment has been made and the Defendant has refused and continues to refuse to pay the amounts due and owing thereunder. All amounts due and owing under the note were duly accelerated.

 

11) The defendant's failure to pay constitutes a breach of contract.

 

12) The sum of Four Thousand Three Hundred One and 74/100 dollars ($4301.74)  due and owing under the note. Interest on said sum is continuing to accrue at the rate of Thirty Four and 53/100 percent per annum from July 20, 2013. 

 

WHEREFORE, Springleaf Financial prays for a Judgement against the Defendant for the sum of $4301.74 accruing interest at the sum of 34.53% per annum from July 20, 2013 until paid, the reservation of all rights in the subject collateral, costs and reasonable attorneys' fees. Springleaf Financial further prays for such other and further relief as this court deems to be just and proper.

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Accruing 35% until paid?? Really, Can they do that? It will never be paid. Have you requested Debt Validation? You need to dispute the debt in it's entirety.And ask for them to send you validation. Check out the debt validation section at the top.You have to request it in 30 days. I would  wait toward the end of that 30 days, like day 25. Gives you longer to read up in here.

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So is this a court summons, or a dunning letter? Is it on court paper that tells you that you have to answer, or is it on company letterhead?

They have confused the issue with their 30 day statement if it is a court summons.

Wow, 3months into default, and they are suing you already, not very workable company are they? What is the collateral?

Maybe you could answer the questions at the top of this forum titled questions when posting in this forum, it will help us get a better idea. Just cut and paste them in here.

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It says "Summons" at the top and I wrote in exactly what was written on it. They aren't asking any questions, just stating their intention of suing. As for the 35% interest, I agree, that is extreme. Would it be possible to file bankruptcy to stop them, I wonder? I was diagnosed 2 years ago with a chronic illness & my already less than stellar credit has taken a nose dive

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It says "Summons" at the top and I wrote in exactly what was written on it. They aren't asking any questions, just stating their intention of suing. As for the 35% interest, I agree, that is extreme. Would it be possible to file bankruptcy to stop them, I wonder? I was diagnosed 2 years ago with a chronic illness & my already less than stellar credit has taken a nose dive

I would not file BK if this is the only defaulted account you have, it would haunt you for 10 years. However, if you have several defaulted accounts, and owe more than half of your yearly income, It may be a viable option for you. If you did file it would stop this suit from going any further.

You could fight it, and if you lost file then. At any rate I would seek out a BK attorney and consult before I did anything.

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